Highlights

  • Net loss was $33,210 thousand for the three months ended June 30, 2026, compared with $30,569 thousand, or $0.21 per share.
  • Cash equivalents and marketable securities totaled $201.1 million at June 30, 2026, and the accumulated deficit was $687.6 million.
  • In June 2026, the company sold 13,495,277 shares at $7.41 per share for net proceeds of approximately $93.6 million.
  • Interim proof-of-concept data for ABS-201 in pattern hair loss are expected in the second half of 2026.

Absci Corporation (NASDAQ: ABSI) shares were trading at USD 10.51 on October 27, 2026, up 11.16%, with a relative volume at time of 2.01. The clinical-stage biopharmaceutical company announced interim Phase 1 data from its HEADLINE trial in June 2026, completed a public offering of common stock that month, and filed its quarterly report for the period ended June 30, 2026 on August 11, 2026.

Absci is incorporated in Delaware, and its headquarters and primary research and development facilities are in Vancouver, Washington. It describes itself as a clinical-stage biopharmaceutical company using an AI-native approach to develop antibody therapeutics through its Integrated Drug Creation platform. Its lead product candidate, ABS-201, is an anti-prolactin receptor antibody being developed for pattern hair loss and endometriosis, and ABS-202 is a second anti-PRLR program in preclinical development. Its fiscal year ends December 31.

Second Quarter Results

Partner program revenue was $318 thousand for the three months ended June 30, 2026, compared with $593 thousand, a decrease of 46%. The company attributed the decrease to the timing of achieving project-based milestones and the mix of ongoing program activity under its drug creation agreements. For the six months, revenue was $533 thousand, compared with $1,772 thousand.

Research and development expenses were $22,616 thousand, compared with $20,458 thousand, an increase of 11% attributed primarily to higher external preclinical and clinical development costs, mainly for ABS-201. Selling, general and administrative expenses were $9,164 thousand, compared with $8,528 thousand. Total operating expenses were $34,476 thousand, compared with $31,986 thousand. Operating loss was $34,158 thousand, compared with $31,393 thousand. Net loss was $33,210 thousand, or $0.21 per share, basic and diluted, compared with $30,569 thousand, or $0.24.

For the six months, net loss was $62,809 thousand, or $0.40 per share, compared with $56,915 thousand, or $0.45.

Balance Sheet, Cash Flow and Financing

As of June 30, 2026, Absci had an accumulated deficit of $687.6 million and cash equivalents and marketable securities totaling $201.1 million. Total stockholders' equity was $246,131 thousand. The company said it has incurred net operating losses since inception, expects to continue to incur expenses, and believes its cash, cash equivalents and marketable securities will be sufficient to meet its needs for at least the next 12 months following the filing date. Future capital requirements depend on its ability to raise additional capital through equity or debt financing.

Net cash used in operating activities was $53.9 million for the six months, compared with $38.7 million. Net cash provided by financing activities was $110.3 million, including $93.6 million from the June 2026 offering and $12.5 million from sales under its at-the-market Sales Agreement, under which the company issued 3,662,246 shares.

Clinical Developments

The HEADLINE Phase 1/2a trial of ABS-201 in volunteers with and without pattern hair loss is a randomized, double-blind, placebo-controlled study expected to enroll up to 227 volunteers at multiple sites in Australia. In June 2026, the company announced interim blinded Phase 1 data, and it reported an estimated half-life of at least 65 days. Interim proof-of-concept data, including exploratory efficacy endpoints, are expected in the second half of 2026, and full proof-of-concept data in early 2027.

Absci anticipates starting a Phase 2 trial of ABS-201 in endometriosis in the fourth quarter of 2026, subject to review of available data, regulatory considerations and other factors, with potential proof-of-concept data in the second half of 2027.

Outlook

The company does not give numerical financial guidance in the quarterly report. It expects research and development expenses to increase in absolute dollars as it advances the HEADLINE trial and prepares for the Phase 2 endometriosis trial, and it expects revenue to fluctuate from period to period.